Recorder with circular storage element

ABSTRACT

Information storage apparatus utilized as a credit instrument for use in a credit system having point-of-sale terminals in places of business, the terminals each having magnetic recording and playback head means. The credit instrument includes a single circular rotatable element having magnetizable material concentrically secured thereto which is adapted to have encoded credit information magnetically recorded on its surface. An enclosure closely confines the element for rotation and has at least one aperture permitting the recording and playback head means to be placed in close proximity to the surface. The size of the instrument permits it to be conveniently grasped between one&#39;&#39;s fingers. Means, such as a spindle-receiving arrangement, is cooperative with any of the point-of-sale terminals for causing rotation of the element to move the surface of the magnetizable material by the aperture when the recording and playback head means is placed in close proximity to the surface, permitting credit information to be recorded on the surface of the magnetizable material and to be read therefrom by the recording and playback head means for use in consummating credit transactions.

United States Patent Hynes, Jr.

[451 Mar. 21, 1972 [54] RECORDER WITH CIRCULAR STORAGE ELEMENT [72] lnventor:

John F. Hynes, Jr., 12356 Creekhaven, St. Louis, Mo. 63131 Primary Examiner-James W. Mofftt Assistant Examiner-Vincent P. Canney Attom'ey-Koenig, Senniger, Powers and Leavitt means for use in consummating credit transactions.

[57] ABSTRACT Information storage apparatus utilized as a credit instrument for use in a credit system having point-of-sale terminals in places of business, the terminals each having magnetic recording and playback head means. The credit instrument includes a single circular rotatable element having magnetizable material concentrically secured thereto which is adapted to have encoded credit information magnetically recorded on its surface. An enclosure closely confines the element for rotation and has at least one aperture permitting the recording and playback head means to be placed in close proximity to the surface. The size of the instrument permits it to be conveniently grasped between ones fingers. Means, such as a spindle-receiving arrangement, is cooperative with any of the point-of-sale terminals for causing rotation of the element to move the surface of the magnetizable material by the aperture when the recording and playback head means is placed in close proximity to the surface, permitting credit infon'nation to be recorded on the surface of the magnetizable material and to be read therefrom by the recording and playback head 12 Claims, 12 Drawing Figures PAIENTEBMARm m2 SHEET 2 [IF 2 BACKGROUND OF THE INVENTION This invention relates to credit instruments, e.g., credit cards and the like, and more particularly to such an instrument on which credit information may be both recorded and played back by magnetic recording and playback apparatus during the consummation of a credit transaction.

l-Ieretofore, there have been proposed systems for automatically or semiautomatically controlling or carrying out various financial or transaction-oriented functions relating to credit transactions. Typically, such proposed systems have a central computer facility for data processing and storage and also have some sort of terminal units, i.e., point-of-sale terminals, located in places of business. The terminal units are interconnected with the central computer facility for transmitting to and receiving from the central computer facility information necessary for consummating credit transactions with individuals at the various places of business.

In general, it has been contemplated that such proposed systems be designed so that one of various prior art types of credit cards, such as are typically made of embossed plastic, will be compatible with the system. Such cards typically show the authorized holders name or account number, or both. In such a proposed system, when a credit card holder desires to make a credit purchase, for example, his name or account number is either manually or automatically fed into a terminal unit. This information, as well as information such as the designation of the place of business where the credit purchase is taking place, the type of sale or goods, the clerks identity, and the amount of the purchase, is then transmitted, as over a telephone line, to the central computer facility. Stored here is data concerning the customer's account. At this facility, there is automatically or semiautomatically determined, based upon the information received, whether and in what amount the customer may be entitled to credit. Further, if the transaction is to take place, then an updating of the customer file may take place. This determination of the customers so-called credit base is then transmitted to the terminal unit either for preventing or permitting completion of the transaction. Such a socalled on line system using conventional credit cards may be disadvantageous in requiring communication between a terminal unit and the central computer facility each time a transaction is to take place, since the communication network required for such a system will be necessarily extensive, complicated, expensive and at times insufficient. Such communication for each transaction is required in order to make a credit entitlement determination, since conventional credit cards are not suited for providing any information subject to change, such as the customers credit base, as transactions are carried out. If such information could be provided, as by magnetic recording, on the credit card during consummation of the credit transaction, the difficulties noted above could be obviated. To permit the recording of information on a credit card, there have been proposed credit cards having strips of magnetizable material on the surface of the card or magnetizable areas buried beneath the surface of the card. Typically, such strips of material on the card are highly disadvantageous in being prone to wear, physical damage, and to becoming soiled. Further, credit cards having buried magnetizable areas have been found difficult or expensive to manufacture.

SUMMARY OF THE INVENTION Accordingly, among the several objects of the invention may be noted the provision of information storage apparatus for use in transferring encoded information of relevance to the holder of the apparatus between said apparatus and a terminal having magnetic recording or reading head means, and particularly for use as a credit instrument in a credit system having credit-determining units in places of business where credit transactions may be consummated with the holder of the credit instrument; the provision of such apparatus which is particularly suited for use in an automatic credit system having centralized computer facilities for data processing and information storage and having point-of-sale terminals in places of business, which units may be interconnected with the central facilities; the provision of such apparatus which is mechanically cooperative with point-of-sale terminals in places of business; the provision of such apparatus employing magnetizable material on which encoded credit information may be magnetically recorded during the consummation of a credit transaction, thus permitting the apparatus itself to determine the customer holder's credit base or entitlement through operation of the point-of-sale terminals such that the latter need not be interconnected with a central processing and memory storage facility during each credit transaction; the provision of such apparatus wherein the magnetizable material is not prone to wear, damage or being soiled; and the provision of such apparatus which is simply and inexpensively constructed. Other objects and features will be in part apparent and in part pointed out hereinafter.

Briefly, information storage apparatus of the present invention is adapted for use as a credit instrument in a credit system having point-of-sale terminals in places of business where credit transactions may be consummated with the holder of the credit instrument. In such a system, each of said creditdetermining units has head means for magnetic recording and playback. The apparatus comprises a rotatable element having magnetizable material thereon which is adapted to have encoded credit information magnetically recorded on its surface. The apparatus includes an enclosure for the element, the enclosure having an aperture permitting the recording and playback head means to be placed in close proximity to the surface of the magnetizable material. The enclosure is of a size conveniently permitting grasping the instrument between ones fingers. Means is cooperative with any of the creditdetermining units for causing rotation of the aforesaid element to move the surface of the magnetizable material by the aperture when the recording and playback head means is placed in close proximity to this surface. This construction permits credit information to be read from this surface and recorded thereon by the recording and playback head means for use in consummating credit transaction with the holder of the apparatus at a place of business.

BRIEF DESCRIPTION OF THE DRAWINGS FIG. 1 is a perspective of the first embodiment of apparatus of the invention for use as a credit instrument;

FIG. 2 is a top elevation of the apparatus of FIG. 1, a portion of the top surface thereof being broken away to illustrate the provision of a rotatable element therein;

FIG. 3 is an enlarged transverse section taken along line 3- 3 of FIG. 2;

FIG. 4 is a perspective of a second embodiment of the invention;

FIG. 5 is a top elevation of the FIG. 4 apparatus, showing a portion of the top broken away, similar to FIG. 2;

FIG. 6 is an enlarged transverse section of the FIG. 4 apparatus taken along line 66 of FIG. 5;

FIG. 7 is a perspective of another embodiment of the invention;

FIG. 8 is an enlarged transverse section taken along line 8 8 of FIG. 7;

FIG. 9 is a perspective of another embodiment of the invenf tion, having features similar to the embodiments shown in both FIGS. 4 and 7;

FIG. 10 is an exploded perspective of a further embodiment of the invention, showing a rotatable element assembly and DESCRIPTION OF THE PREFERRED EMBODIMENTS Referring now to FIGS. 1-3 of the drawings, indicated generally at 21 is a first embodiment of apparatus of the present invention. The apparatus is intended for use, in a sense somewhat analogous to the use of a credit card, as a credit instrument and as such as preferably utilized in an automatic credit system having centralized computer processing and data storage facilities and many point-of-sale terminals in places of business where credit transactions may be consummated with the holder of the instrument.

As FIGS. 2 and 3 most clearly illustrate, the instrument has a one-piece integral rotatable element constituted by a wheel indicated generally at 23 which is positioned for rotation about an axis 25 (FIG. 2) coincident with the center of the wheel. A rim 27 of the wheel has peripheral surface 29 to which is secured magnetizable material designated at 31 which may, for example, be a material such as iron oxide, or wheel 23 may itself comprise such a material, e.g., a so-called magnetic rubber such as sold under the trade designation Hypalon. As will be seen, magnetizable material 31 is adapted to have included credit information magnetically recorded on its surface. The thickness of rim 27 is substantially less than the diameter of wheel 23, providing the appa'ratus with advantageous thinness.

The instrument includes an enclosure for the wheel, indicated generally at 33, which confines the wheel for rotation. The enclosure is preferably of a thin molded plastic material which conforms relatively closely to the shape of the wheel and includes planar top and bottom surfaces 32 and 34 with depressions therein. The enclosure may comprise injection molded upper and lower portions of PVC plastic or the synthetic material sold under the trade name Delrin, for example, suitably joined together, as by ultrasonic welding. Wheel 23 includes concentric depressions 35 and 37 on opposite sides thereof and the enclosure has respective interior surfaces 39 and 41, defined by depressions in the enclosure, which extend toward the wheel and fit into depressions 35 and 37 for confining the wheel for rotation about its center, i.e., about the axis of rotation, the fit between depressions 35 and 37 and the inwardly extending surfaces 39 and 41 of the enclosure being such as will freely permit rotation of the wheel but prevent any substantial lateral or axial movement thereof.

Enclosure 33 includes a peripheral side wall 43 which is provided with a pair of generally rectangular slotlike apertures 45 and 47 therein on opposite sides of the enclosure for permitting individual recording and playback heads 49 and 51, which are part of a point-of-sale terminal of the credit system, to be placed in close proximity to the surface of magnetizable material 31. As may be seen, these apertures 45 and 47 are adjacent the rim 27 of wheel 23. Apertures 45 and 47 are positioned with respect to wheel 23 to cause different portions of magnetizable material 31 to pass by the two different apertures; i.e., apertures 45 and 47 are axially displaced with respect to each other by a small amount to permit a plurality of different channels or tracks of credit information to be recorded on the surface of material 31. It is to be understood thateach of heads 49 and 51 might be used for both recording and playback functions. Thus one track or information channel may comprise the encoded account number as well as the name of the authorized holder of the instrument, while the other track may be used for recording a credit base, i.e., the amount of credit to which the holder is entitled, as well as other information which is of utility of carrying out a credit transaction and keeping record thereof.

As may be seen, wheel 23 has a web portion 53 having a keyed or D-shaped concentric opening 55 therein. Web portion 53, with this opening, functions as a means cooperative with a point-of-sale terminal unitof the system for rotating wheel 23 to cause magnetizablematerial 31 to pass by apertures 45 and 47 when heads 49 and 51 are placed in close proximity to the surface of the material. The keyed opening 55 is adapted to receive a keyed drive spindle 57 of a point-ofsale terminal. To permit the receiving of drive spindle 57 by opening 55, enclosure 33 includes a further circular aperture 59 aligned with key opening 55.

The enclosure 33 includes a tab portion 61, which extends from the enclosure in a direction generally normal to the axis of rotation of wheel 23 to permit the instrument to be grasped between the fingers of the holder. This tab portion may have various information printed thereon, such as the name of the authorized holder of the card and his account number, or may include symbols, artistic designs, or the logotype of the credit grantor.

In order to prevent dirt or foreign matter from accumulating within enclosure 33 such as might cause wear or interference with rotation of wheel 23, etc., apertures 45 and 47 may be provided with lips which extend toward the wheel to block entrance of dirt or foreign matter. Such lips are shown at 65a and 65b for aperture 45 and at 67a and 67b for aperture 47. If desired, a seal of suitable seal material may be provided between these lips and material 31 to provide even better protection against entrance of dirt or foreign matter.

Should protection against inadvertent demagnetization of material 31 be desired, enclosure 33 may be lined on its internal surfaces with a thin layer of magnetic shielding, such as Mumetal.

Enclosure 33 is suitably dimensioned to facilitate carrying the instrument in ones pocket or in a wallet, etc., like a conventional credit card. For example, the enclosure may be about one in. in diameter and less than one-quarter inch in thickness at its thickest portion- Tab portion 61 may be something more than an inch in length and in inch in width, thus permitting one to grasp the instrument by holding the tab portion between his fingers. In one instrument constructed according to the invention, slots 45 and 47 had a width of about one-sixteenth inch and a length of about three-eighths inch and were axially displaced with respectto one another by an amount of 0.040 inch.

FIGS. 4-6 illustrate a further embodiment of the invention, designated generally at 69. Like the embodiment shown in FIGS. 1-3, instrument 69 includes a rotatable element constituted by a wheel indicated generally at 23' which is like wheel 23 of FIGS. 1-3 with the exception that no aperture for receiving a drive spindle is provided. Wheel 23' is positioned for rotation about an axis coincident with its center and includes a rim 27 on the periphery of which magnetizable material 31 is suitably secured. An enclosure of wheel 23' is indicated generally at 73, and, as in the previous embodiment, conforms relatively closely to the shape of the wheel in having planar top and bottom surfaces with depressions therein. Wheel 23 includes concentric depressions 35 and 37 on opposite sides thereof and the enclosure has respective interior surfaces 39 and 41 defined by the depressions in the top and bottom surfaces of the enclosure which fit into depressions 35 and 37 of wheel 23, thus confining the wheel for rotation about its center, i.e., about the axis of rotation. As in the first embodiment, the fit between these depressions of the wheel and the surfaces of the enclosure which extend to these depressions is such as will freely permit rotation of the wheel but prevent any substantial lateral or axial movement thereof.

Rather than having apertures on opposite sides of enclosure 73 for receiving recording and playback heads as in the previous embodiment, in this particular embodiment a single slotlike aperture 75 is provided in the front of enclosure 73 in a peripheral wall 77 thereof for permitting a recording and playback head, such as one of the heads 49 and 51 shown in FIG. 1, to be placed in close proximity to the surface of magnetizable material 31. The width of aperture 75, i.e., its dimension along the axis of rotation of wheel 23, may if desired be sufficient to accommodate a two-channel recording and playback head.

Positioned on either side of aperture 75 are a pair of rollers 79 and 81, each of which is mounted for rotation on enclosure 73 for frictionally engaging rim 27 of. wheel 23' through contact with the surface of material 31. Rollers 79 and 81 are shown as being captive within recesses of a thick portion of enclosure wall 77. Alternatively, these rollers may be provided with axles, etc., journaled in enclosure 73 or may otherwise be mounted for rotation. Roller 79 is shown as constituting a drive roller and thus functions as a means cooperative with a point-of-sale terminal to cause rotation of wheel 23. For this purpose, roller 79 protrudes from enclosure 73 to permit frictional engagement with a drive wheel 83 of a point-of-sale terminal. Roller 81 is utilized as an idler roller. Rollers 79 and 81 may each be of a suitable plastic or other material having frictional characteristics for importing motion to wheel 23.

While only the single aperture 75 is shown in this latter embodiment, it will be appreciated that apertures may instead be provided on opposite sides, etc., of enclosure 73, as in the embodiment of FIGS. 1-3.

FIGS. 7 and 8 illustrate yet another embodiment of the invention, designated generally at 85, and which is quite similar in some respects to that embodiment illustrated in FIGS. 1-3. As in the previous embodiments, instrument 85 includes a rotatable element constituted by a wheel indicated generally at 87 and which is quite similar to wheel 23 depicted in FIGS. 1-3. Wheel 87 includes a rim 89 on the side of which magnetizable material 91 is suitably secured. An enclosure, indicated generally at 93, and much like that shown in FIGS. 1-3, has planar top and bottom surfaces with a depression in the top surface. The enclosure 93 conforms relatively closely to the shape of wheel 87. Wheel 87 has a single concentric depression 95 on one side thereof and the enclosure has an interior surface 97 which fits into this depression 95, thus confining wheel 87 for rotation about its center. The fit between the interior surfaces of enclosure 93 and wheel 87 is such as will freely permit rotation of the wheel but prevent any substantial lateral or axial movement thereof.

The top surface of enclosure 93 is designated 99 and is provided with a pair of slotlike apertures 103 and 105 for permitting recording and playback heads like those illustrated in FIG. 1 to be placed in close proximity to the surface of magnetizable material 91. Apertures 103 and 105 may be of the same general size as apertures 45 and 47, illustrated in FIGS. 1-3, e.g., about one-sixteenth inch in width and about threeeighth inch in length. They are radially displaced with respect to one another, i.e., each being a different radial distance from the axis of rotation of wheel 87, the difference in radii being sufficient to permit the recording of two separate tracks of encoded information on the surface of magnetizable material 91. This radial difference may be 0.040 inch, for example.

In order to serve as a means cooperating with a point-of-sale terminal, wheel 87 has a toothed portion defining a concentric toothed or sprocketed opening 107 therein which may receive a toothed drive spindle 109 of a point-of-sale terminal. The use of a toothed opening 107, rather than the D-shaped opening 55 of the first embodiment, may be preferable to allow the drive spindle to be quickly received for causing rotation of the wheel, whereas the D-shaped opening may be preferable in some cases to provide indexing of the wheel with respect to the drive spindle, noting that the spindle may only engage the D-shaped hole in one radial position. That is, it may be desired to provide angular orientation of the wheel by means of the drive spindle so that the initiation of recording or playback is accomplished at a predetermined point on the magnetizable material.

In the embodiment of the invention illustrated in FIG. 9, and designated generally at 113, the slots 103 and 105 are again provided in the top surface of the enclosure to permit the recording and playback heads to be placed in close proximity to the surface of the magnetizable material. However, the enclosure 115 is not provided with an opening in its top surface to permit the receiving of a drive spindle such as the spindle 109 of FIG. 7, but instead has a further slotlike aperture 117 provided in its front surface which is substantially like the slot or aperture 75 shown in FIGS. 4-6, which is of dimensions suitable for permitting a drive roller 119 of a periphery unit to engage the peripherry of the wheel within the enclosure. As in the embodiment of FIGS. 7-8, the wheel of the instrument 113 has a magnetizable surface on one side of its rim and thus its cross section is substantially identical with the represented in FIG. 8, though no aperture is provided in the wheel.

Referring now to FIGS. 10-12, there is illustrated a further embodiment of the invention which is designated generally 121. As may be seen, the instrument 121 includes a rotatable element assembly, designated generally at 123, which is confined for rotation in an enclosure having an upper portion indicated generally at 125 and a lower portion indicated generally at 127, which, when joined together, closely confine the element assembly 123 for rotation. The enclosure is preferably of a thin, molded plastic material.

Assembly 123 is depicted in an exploded perspective in FIG. 12, wherein it may be seen that element 123 includes a wheel indicated generally at 129, including a rim 131 and a flange 133 extending from one side of rim 131. Rim 131 includes a peripheral surface 135 to which is secured a ring 137 of magnetizable material, e.g., so-called magnetic rubber. The thickness of rim 131 is substantially less than the diameter of the wheel.

Wheel 129 has a concentric depression 139 on one side thereof. The top portion 125 of the enclosure has an interior surface 141 defining a boss 142 and which extends toward the wheel and fits into depression 139 for confining the wheel for rotation about its center. When assembled as depicted in FIG.

11, the fit between depression 139 and the surface 141 is such that the wheel may freely rotate. However, any substantial lateral or axial movement thereof is prevented. Top portion 125 of the enclosure includes a pair of slotlike apertures 143 and 145 like those of the embodiment of FIGS. 7 and 9 on opposite sides of the axis of rotation of the wheel for permitting individual recording and playback heads which are part of the point-of-sale terminal of the credit system to be placed in close proximity to the surface of the magnetizable material. Preferably, as in the previous embodiments, apertures 143 and 145 are radially displaced with respect to each other by a small amount, e.g., 0.040 inch, in order to permit recording of two tracks of encoded credit information on the ring 137 of magnetizable material, and this displacement may be seen in FIG. 11. The top surface of the upper portion 125 of the en closure is designated 147.

In order to provide a high degree of accuracy in the alignment of the information tracks recorded on the magnetic material with respect to magnetic head apertures, it is generally preferable in all embodiments of the invention that the portion of the instrument enclosure defining the bearing surface for the wheel also contain these apertures. Thus, as may be seen in FIGS. 10 and 11, upper portion 125 of instrument 121 includes boss 142, with its bearing surface 141, as well as apertures 143 and 145,

As FIG. 1 1 shows, the depression 139 in wheel 129 defines a web portion 149 of the wheel in whichis provided a keyed or D-shaped concentric opening 151 for receiving a drive spindle of a point-of-sale terminal in order to provide a means for causing rotation of the wheel and the ring 137 of magnetizable material. The top surface 147 of the upper portion of the enclosure is also provided with an opening 153 to permit the keyed opening 151 to receive the drive spindle.

The lower portion 127 of the enclosure is planar, as may be seen, and includes the tab portion 153 extending from one side thereof to permit the instrument to be grasped between the fingers of the holder, as in the previously described embodiments. If desired, lower portion 127 of the enclosure may be constituted by the surface of a conventional credit card. That is, the upper portion 125 with rotatable element assembly 123 therein maybe secured to one side of a conventional credit card, thus enabling apparatus of the invention to be used in conjunction with the credit card during consummation of a credit transaction.

From the foregoing descriptions of the various preferred embodiments, it may be appreciated that a credit instrument of the invention is a significant departure from usual credit instruments, such as conventional credit cards, in being adapted not only to permit encoded credit information, in encoded form, to be decoded by a suitable point-of-sale terminal of an automatic credit system, but also in being adapted to have credit information recorded in the instrument during the consummation of a credit transaction. That is, a credit instrument of the invention provides for a changing of the credit information which the credit card provides, during consummation of the credit transaction.

In utilizing credit instruments of the invention in an automatic credit system, the instruments may be distributed to authorized individuals without any information being recorded in the instrument, i.e., on the surface of the magnetizable material therein. If the holder of the instrument satisfactorily establishes his identity, the instrument may be inserted in a slot or the like of a point-of sale terminal and an inner connection between the point-of-sale terminal and the central computer facility may be established, as over a telephone line. Assuming that the holder of the instrument is entitled to credit, a signal may be transmitted to the point-ofsale terminal which can then record an authorized credit amount, Le, a line of credit, as well as any other information such as the holders account number, address or other bookkeeping information, into the instrument. For example, a credit amount such as $50.00 may be recorded in encoded form in the instrument. Subsequently, the holder of the instrument may present the instrument for the purpose of making a credit purchase at another place of business where, when the instrument is inserted into a point-of-sale terminal, the amount of the purchase may be deducted from the recorded line of credit, and a new credit figure may then be recorded by the point-of-sale terminal into the instrument. Preferably, a printed record or so-called hard copy (sales ticket) of the transaction may be made by the point-of-sale terminal, as is conventional. With each subsequent transaction, the amount of the purchase is subtracted from the credit amount which has previously been recorded into the instrument, and a reduced credit entitlement is then recorded into the instrument.

From the foregoing, it may be seen that there is no necessity for communication to be established between the point-of-sale terminal and the central computer facility during consummation of each separate credit transaction. Instead, when the encoded credit entitlement is insufficient to cover a purchase, a communication can then be established with the central computer facility which will then update the credit amount recorded into the instrument. Since a communication between a point-of-sale terminal and a central computer facility is not necessary as each credit transaction is consummated, the communication network required for an automated credit system utilizing credit instruments of the invention need not be as extensive, complicated, or expensive as has been required for previously proposed automatic credit systems. Since it is generally preferable that records of an instrument holder's account at the central computer facility regularly be kept current, information concerning purchases made by instrument holders at each place of business may be transmitted to the central facility by suitable means (as by tape recording, etc.) as a quick, brief continuous message during evening or early morning hours or at other times which are particularly advantageous for the transmission of such information. Since, in a system using an instrument of the invention, this updating can take place quickly and at advantageous times rather than as each credit sale is consummated, an extensive, complicated or costly communication network as required for previously proposed systems is not necessary. Further, since it is the presently disclosed instrument which determines a credit entitlement rather than records at some remote central facility, a credit transaction can be very quickly consummated, as opposed to the present time-consuming practice oftelephoning a records-keeping facility to determine credit standing and entitlement.

While in some of the several embodiments illustrated above, the instrument enclosures are shown as having a pair of apertures for receiving magnetic recording-playback heads for two-track recording and playback, it should be understood that additional tracks of encoded information may be used by providing apertures in several faces of the enclosure. For example, in a six-track instrument of the invention, the top and bottom walls or faces of the enclosure as well as the side walls thereof may each have a pair of apertures therein.

In view of the above, it will be seen that the several objects of the invention are achieved and other advantageous results attained.

As various changes could be made in the above constructions without departing from the scope of the invention, it is intended that all mater contained in the above description or shown in the accompanying drawings shall be interpreted as illustrative and not in a limiting sense.

What is claimed is:

1. Information storage apparatus for use in transferring encoded information of relevance to the holder of the apparatus between said apparatus and a terminal having head means for magnetic recording or magnetic reading, said apparatus comprising a single rotatable element which is circular with respect to an axis of rotation and which includes magnetizable material concentrically secured thereto around said axis, said magnetizable material being adapted to have said encoded credit information magnetically recorded on the surface thereof, an enclosure for said element confining said element for rotation about said axis and having at least one aperture permitting said head means to be placed in close proximity to said surface, said enclosure being of a miniaturized size permitting said apparatus to be grasped between the fingers of the holder, and means cooperative with said terminal for causing rotation of said element to move said surface by said aperture when said head means is placed in close proximity to said surface, whereby said encoded information may be recorded on said surface or read therefrom by said head means.

2. Apparatus as set forth in claim 1 wherein said rotatable element is of one-piece, integral construction.

3. Apparatus as set forth in claim 1 wherein said rotatable element is a wheel rotatable about the center thereof and having a rim, said magnetic material being secured to said rim.

4. Apparatus as set forth in claim 3 wherein the rim of said wheel includes a peripheral surface, said magnetic material being secured thereto.

5. Apparatus as set forth in claim 3 wherein the head means of said terminal comprises a plurality of individual heads, there being a corresponding plurality of apertures permitting each of said individual heads to be placed in close proximity to the surface of said magnetizable material, each of said apertures being positioned with respect to said wheel to cause respectively different portions of the surface of said magnetizable material to pass by different ones of said apertures whereby a plurality of different channels of information may be recorded on said surface.

6. Apparatus as set forth in claim 3 wherein the cooperative means for causing rotation of said element is constituted by a portion thereof defining a keyed concentric opening in the wheel adapted to receive keyed drive means of said terminal, there being a further aperture in said enclosure aligned with and permitting the keyed opening to receive the keyed drive means.

7. Apparatus as set forth in claim 3 wherein the cooperative means for rotating said element comprises a driving surface on said wheel concentric therewith and adapted to be frictionally engaged by rotating drive means of said terminal, said enclosure having a further aperture permitting the element to be frictionally engaged by the rotating drive means.

8. Apparatus as set forth in claim 3 wherein the cooperative means for rotating said element comprises at least one roller mounted for rotation in said enclosure and frictionally engaging the rim of said wheel, said roller protruding from said enclosure for frictional engagement with drive means of said terminal. I

9. Apparatus as set forth in claim 3 wherein the cooperative means for causing rotation of said element is constituted by a toothed portion of said wheel adapted to be engaged by toothed drive means of said terminal, there being a further aperture in said enclosure aligned with and permitting engagement of the toothed portion with the toothed drive means.

10. Apparatus as set forth in claim wherein said toothed portion defines a concentric opening in said wheel adapted to receive said toothed drive means.

1 1. Apparatus as set forth in claim 3 wherein said wheel has a concentric depression on one side and said enclosure has a $292 3? v UNITED STATES PATENT OFFICE v CERTIFICATE OF CORRECTIUN Patent No. 3, 5l *99 Dated March 21, 1972 In e t r( John F. Hynes, Jr.

It is certified that error appears in the above-identified patent and that said Letters Patent are hereby corrected as shown below:

Column 2, line 43, "transaction" should read transactions Column 3, line 7, "such as" should read such is Column L, line 2, "key" should read keyed line 15, "of should read for Column 5, line 73, periphery unit" should read credit-determining: unit Column 6, line 3, the" should read that Column 8, line 15, "meter? should read matter Column 9, line 7, "10" (second occurrence) should read 9 Signed and sealed this 18th day of July 1972.

(SEAL) Attest:

EDWARD M.FLEICHER,JR. ROBERT GOTTSCHALK Attesting fifficer Commissioner of Patents 

1. Information storage apparatus for use in transferring encoded information of relevance to the holder of the apparatus between said apparatus and a terminal having head means for magnetic recording or magnetic reading, said apparatus comprising a single rotatable element which is circular with respect to an axis of rotation and which includes magnetizable material concentrically secured thereto around said axis, said magnetizable material being adapted to have said encoded credit information magnetically recorded on the surface thereof, an enclosure for said element confining said element for rotation about said axis and having at least one aperture permitting said head means to be placed in close proximity to said surface, said enclosure being of a miniaturized size permitting said apparatus to be grasped between the fingers of the holder, and means cooperative with said terminal for causing rotation of said element to move said surface by said aperture when said head means is placed in close proximity to said surface, whereby said encoded information may be recorded on said surface or read therefrom by said head means.
 2. Apparatus as set forth in claim 1 wherein said rotatable element is of one-piece, integral construction.
 3. Apparatus as set forth in claim 1 wherein said rotatable element is a wheel rotatable about the center thereof and having a rim, said magnetic material being secured to said rim.
 4. Apparatus as set forth in claim 3 wherein the rim of said wheel includes a peripheral surface, said magnetic material being secured thereto.
 5. Apparatus as set forth in claim 3 wherein the head means of said terminal comprises a plurality of individual heads, there being a corresponding plurality of apertures permitting each of said individual heads to be placed in close proximity to the surface of said magnetizable material, each of said apertures being positioned with respect to said wheel to cause respectively different portions of the surface of said magnetizable material to pass by different ones of said apertures whereby a plurality of different channels of information may be recorded on said surface.
 6. Apparatus as set forth in claim 3 wherein the cooperative means for causing rotation of said element is constituted by a portion thereof defining a keyed concentric opening in the wheel adapted to receive keyed drive means of said terminal, there being a further aperture in said enclosure aligned with and permitting the keyed opening to receive the keyed drive means.
 7. Apparatus as set forth in claim 3 wherein the cooperative means for rotating said element comprises a driving surface on said wheel concentric therewith and adapted to be frictionally engaged by rotating drive means of said terminal, said enclosure having a further aperture permitting the element to be frictionally engaged by the rotating drive means.
 8. Apparatus as set forth in claim 3 wherein the cooperative means for rotating said element comprises at least one roller mounted for rotation in said enclosure and frictionally engaging the rim of said wheel, said roller protruding from said enclosure for frictional engagement with drive means of said terminal.
 9. Apparatus as set forth in claim 3 wherein the cooperative means for causing rotation of said element is constituted by a toothed portion of said wheel adapted to be engaged by toothed drive means of said terminal, there being a further aperture in said enclosure aligned with and permitting engagemenT of the toothed portion with the toothed drive means.
 10. Apparatus as set forth in claim 10 wherein said toothed portion defines a concentric opening in said wheel adapted to receive said toothed drive means.
 11. Apparatus as set forth in claim 3 wherein said wheel has a concentric depression on one side and said enclosure has a surface extending toward said wheel and fitting into said depression for confining said wheel for rotation about the center thereof.
 12. Apparatus as set forth in claim 11 wherein the thickness of the rim of said wheel is substantially less than the diameter of said wheel, said enclosure having a tab portion extending therefrom in a direction generally normal to the axis of rotation of said wheel for facilitating grasping of the apparatus between the fingers. 